Call Rates Edge Lower to 4.80% as New Cycle Opens
Interbank call rates at 4.80% at the start of the reporting cycle.
Key Highlights
Interbank call rates dropped to 4.80% as demand eased at the start of the new reporting cycle. Explore key borrowing metrics and market data.
Interbank call rates eased to 4.80% as demand softened at the start of the first week of the reporting cycle, down from 5.10% on Friday.
The weighted average rate in the call money market stood at 5.07% on Tuesday, compared with 5.02% on Friday according to official figures.
Key Borrowing Metrics
Market data highlights the following rates and volumes recorded during the session:
Overnight borrowing rates touched a high of 5.15% and a low of 4.60%.
CCIL data showed the weighted average rate in the TREP market at 4.87% with a total volume of Rs 499646.75 crore.
The weighted average rate in the Basket REPO market reached 4.97% with total volume standing at Rs 95525.02 crore.
Contributing
Indicative call rates closing at 5.10% on Friday included contributions from multiple major banking institutions.
Contributing entities comprised Andhra Bank, AXIS Bank, Bank of America, Bank of Baroda, Bank of India, Canara Bank, J P Morgan Chase, Citibank N.A., Corporation Bank, Credit Agricole Bank, IndusInd Bank, ICICI Bank, ICICI Securities, IDBI Bank, Jammu and Kashmir Bank, Punjab National Bank, RBS, Societe Generale, and Standard Chartered.